Graves Light Private Wealth Management Inc. Acquires Shares of 2,466 Medtronic PLC (MDT)

Graves Light Private Wealth Management Inc. bought a new stake in Medtronic PLC (NYSE:MDT) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 2,466 shares of the medical technology company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tributary Capital Management LLC acquired a new position in shares of Medtronic during the 4th quarter worth $27,000. Cordasco Financial Network acquired a new position in shares of Medtronic in the 1st quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. raised its position in shares of Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 226 shares in the last quarter. Highwater Wealth Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at approximately $39,000. Finally, IMS Capital Management acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

MDT traded up $0.44 during midday trading on Friday, reaching $89.58. The company’s stock had a trading volume of 3,705,101 shares, compared to its average volume of 5,918,095. The firm has a market capitalization of $120.14 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. Medtronic PLC has a twelve month low of $79.01 and a twelve month high of $100.15.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.50 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.23%. Medtronic’s dividend payout ratio is currently 41.93%.

A number of brokerages recently commented on MDT. ValuEngine downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Barclays reduced their target price on Medtronic from $113.00 to $104.00 and set an “overweight” rating for the company in a report on Tuesday, January 8th. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Tuesday, January 15th. Needham & Company LLC reissued a “strong-buy” rating and issued a $117.00 price objective (down from $120.00) on shares of Medtronic in a research note on Monday, February 4th. Finally, Oppenheimer set a $104.00 price objective on Medtronic and gave the stock a “buy” rating in a research note on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $103.39.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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